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Segment I (6.1,6.2,6.3,6.4&6.5) Flashcards | StudBud
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Segment I (6.1,6.2,6.3,6.4&6.5)
Segment I (6.1,6.2,6.3,6.4&6.5)
37 terms
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Questions
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Answers
1
Form of advertising that involves sending postcards/flyers to prospective clients?
Email
Direct Mail Advertising
Snail Mail
Mailbox
2
What is the most effective way to build your clientele?
Postcards
Rebooking
Word of Mouth
Direct Mail
3
Set income given to an employee weekly/monthly is called:
Salary
Pension
Paycheck
Franchise
4
What are 3 important factors when deciding on a salon?
Salary/Benefits
Revenue
Location
Success of the Salon
5
The distance from the Social Security office needs to be researched when beginning the process of planning on a salon.
False
True
6
What is the name of the government agency that would audit your business records?
FBI
NACCAS
CIA
IRS
7
What % of total salon expenses generally represent compensation for the salon owner and employees?
50
75
40
60
8
A financial advisor who can tell you what a bank may lend you based on net worth is called:
Accountant
Finance Manager
Lawyer
IRS
9
When opening a salon, what is the most important factor?
Location
Walking distance to social security
Aesthetic
Nearest Starbucks
10
This system is important for allowing close management of products purchased for retail.
Payroll
Performance
Appointment Book
Inventory
11
Each client should be treated with:
Disrespect/Hostility
Love/Respect
Sarcasm/Anger
Respect/Concern
12
What is important when managing the financial operations of a salon?
Clients
People skills
Creating a budget
Inventory
13
Employers discuss job performance with employees at their:
Work Stations
Company Meetings
Termination Meeting
Performance Reports
14
What government agencies collect taxes planned for savings/retirement in the US and Canada?
US Social Security
IRS
Canadian Government
Canadian Pension
15
Income based on a percentage of the dollar income of total client services is called:
Commission Structure
Booth Rental
Internship
Hourly Structure
16
A pay structure based off of number of clients and amount of work done is:
Salary
Hourly
Commission
Booth Rental
17
Who is responsible for applying for a state sales tax permit?
Salon Owner
Manager
Stylist
Client
18
How many pages should a resume be?
1
4
3
2
19
Net worth calculated by subtracting liabilities is called:
Charge Accounts
Assets
Loan Balances
Student Loans
20
What business type is owned by shareholders and formed under legal guidelines?
Family Owned
Local
Corporation
Franchise
21
Tips received by an employee must be reported to:
State Board
Illinois Government
IRS
FBI
22
What type of insurance protects salon owners from financial loss due to employee negligence?
Practical
Health
Dental
Malpractice
23
What would be an example of a liability on your financial statement?
Money owed on a car
Money owed on a business
Money owed on a mortgage
Money owed on a credit card
24
Which of the following is the easiest buyer motivation to recognize?
Need
Want
Dislike
Like
25
Stylist, name, scheduled services, client names, date and client phone numbers should all be included in the:
Appointment Book
Client Record
Receipt
Computer System
26
Who is responsible for compliance of local, state and federal rules/regulations?
Corporation
Stylist
Client
Salon Owner
27
Buyer type that is open minded and willing to purchase without hesitation is:
Eager
Open
Hesitant
Ready
28
The size of a product is considered a ___________ of the product.
Quality
Look
Characteristic
Sign
29
A form of operation that has a fee plus monthly service charge paid for by a parent corporation is called a:
Greenhouse
Corporation
Franchise
Retailer
30
Renting/Leasing a work station from a building owner is:
Booth Rent
Independent Contractor
Commission
Dependent Contractor
31
How many square feet is efficient work space for stylists?
35-75
200-450
150-200
120-150
32
All the money you owe is called:
Debt
Liabilities
Credit
Income/Debt Ratio
33
The best form of advertising:
Instagram
Direct Mail
Email
Word of Mouth
34
Who is the first person to greet the client?
Stylist
Manager
Receptionist
Owner
35
Ingredients of a product are considered a product benefit.
True
False
36
How many years is considered a long range goal?
10
2
7
5
37
Tax based on the earning of business is called:
Taxable Deductions
Inventory
Revenue
Income Tax